Myanmar opens arms for the first foreign company to build an oil and gas supply base
MOSB Limited (MOSB), has received approval from the Myanmar Investment Commission (MIC) on 11 July, 2017 to build and operate a supply base in Mon State, with the endorsement from the Ministry of Energy.
The establishment of a supply base will support the fast-growing oil and gas industry in Myanmar and provide necessary infrastructure, health, education and employment opportunities to those in the region. This will further advance the industry by reducing travel distances and increasing efficiency.
“The planned offshore supply base would reduce the travelling time for oil and gas companies with Myanmar operations, which would otherwise have to travel to Singapore or Thailand,” said Mr. Leonard Oh, Executive Chairman of MOSB.
MOSB is committed to the growth of Myanmar and to supporting the communities in Mon State. As part of the project, MOSB will invest in the development of wide-ranging infrastructure and improvements to existing transportation and telecommunication linkages. Additionally, MOSB has plans to provide educational, medical and social services to enhance the network for business growth and economic development which will ultimately benefit the entire country.
U Zaw Min Oo, Village Head of Wae Ka Li Village, Mon State said, “I am very happy and welcome this project because I believe it will support the local community to improve transportation, education and health as well as electricity which we need now. Our local people will not need to leave the village and travel far for jobs as the project will create a lot of job opportunities for us. This project will definitely improve our standard of living in many different ways.”
This will be the first foreign permit for a Supply Base for Myanmar, approved by the Ministry of Electricity and Energy.
MOSB company represents a joint venture between Two Fish Supply Base Limited of Myanmar and 2 Fish (SG) Pte Ltd of Singapore. MOSB is 80% owned by 2Fish (SG) Pte Ltd of Singapore. This is another effort by Singapore companies to create a joint effort to assist with the growth of the Myanmar economy.